MELVILLE - Henry Schein, Inc. (Nasdaq: HSIC) announced today that it has been named to FORTUNE magazine's 'Change the World' list, an annual recognition of select companies that, through their work and initiatives, create positive social impact as part of their core business strategy.
Henry Schein was recognized for its leadership initiatives designed to advance health equity for individuals with disabilities, and in particular, engaging the Company's key stakeholder relationships in support of this work. This is the third time the Company has been named to FORTUNE magazine's 'Change the World' list. In 2018, Henry Schein was recognized for its efforts to expand access to oral health care for underserved populations around the world, and in 2020, the Company was recognized for its role as co-founder and private sector lead of the Pandemic Supply Chain Network.
According to the Centers for Disease Control, 61 million people in the United States live with a disability. Individuals with intellectual and developmental disabilities (IDD) are particularly vulnerable to poor oral health, and as a population have complex oral health care needs, according to a report from BMC Public Health. This disparity is due to various risk factors that people with IDD may experience, including barriers to accessing quality health care.
Henry Schein's longstanding commitment to addressing the needs of the disability community includes the following activities, among others: Catalyzing public-private partnerships to advocate for and increase access to oral health care for people with disabilities. Henry Schein co-founded and provides ongoing funding, in-kind support, and leadership to Project Accessible Oral Health, a 501(3) charity that joins health care professionals, industry, community organizations, and policymakers to raise awareness about care gaps within the disability community. Care gaps include the fees paid to dental providers by third-party payers, which are inadequate for the time and facility requirements necessary to serve this population, resulting in a small portion of providers serving this population nationally. In addition, training of the oral health care team is not readily available throughout the oral health education system, nor does every school have adequate clinical facilities and faculty to achieve this goal.
Educating and training the primary health care community and future professionals. The Company partnered with the National Council on Disability to educate medical and dental professionals on how they can improve access to care for disabled patients, including skills for treating this population. Henry Schein also partnered with Special Olympics International (SOI) to advance diversity and inclusion training, create a health care provider directory, and donate health care products in support of Special Olympics' Healthy Athletes free screening and education programs at hundreds of events internationally. Finally, Henry Schein has engaged with members of the American Dental Education Association to develop the framework for a national curriculum to educate and train a new cohort of health professionals. The leaders of this movement include Dr. David Fray of the University of Texas Health Houston School of Dentistry, Dr. Allen Wong of the University of the Pacific Arthur A. Dugoni School of Dentistry, and Dr. Mark Wolff, Dean of the University of Pennsylvania School of Dental Medicine, along with other institutions that are actively disseminating courses.
Activating stakeholders and lawmakers to address oral health care inequities, increase dental care coverage, and improve reimbursement to providers. Henry Schein, along with the American Academy of Developmental Medicine & Dentistry, assembled a coalition of clinical and academic leaders and not-for-profit organizations to educate policymakers at the national and state level about the oral health needs of individuals with disabilities and the additional care expenses related to serving this population.
Engaging clinicians and suppliers to design adaptive products and accessible dental offices. The Company collaborated with the National Council on Disability to advocate for the creation of American Dental Association standards for dental office design to better accommodate the needs of patients with disabilities, including a partnership with a national firm to design, layout, equip, and specify equipment and supplies for use in integrated health care programming to support patients with special needs.
'At Henry Schein, our work towards improving health equity and patient outcomes naturally encompasses our efforts for individuals with disabilities, given the large number of patients within this community and the substantial care gaps that persist,' said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. 'From our earliest days, we have held ourselves accountable to the five constituencies that make up our 'Mosaic of Success' - our customers, suppliers, Team Schein Members, shareholders, and society at large - and this model of stakeholder engagement has, in turn, helped advance our business growth.
'We have long recognized that strong financial performance and service to the greater good are mutually reinforcing objectives. Being named to FORTUNE magazine's 'Change the World' list exemplifies our philosophy of building deep, trust-based relationships that further societal change and drive corporate success, and on behalf of the more than 22,000 Team Schein Members, we are honored to receive this distinguished recognition,' Mr. Bergman added.
As part of Henry Schein's efforts to support individuals with disabilities, the Company also established a disability task force comprised of several business units within the Company. Additionally, Henry Schein announced plans to establish an Employee Resource Group (ERG) in 2023 for Team Schein Members with disabilities, building on the Company's commitment to fostering a diverse, inclusive workplace aligned with its Team Schein Values.
FORTUNE magazine's 'Change the World' list celebrates companies and leaders that embrace corporate purpose and recognize how it can add value to business and society. FORTUNE evaluates the companies by measurable social impact, business results, degree of innovation, and corporate integration.
About Henry Schein, Inc.
Henry Schein, Inc. (Nasdaq: HSIC) is a solutions company for health care professionals powered by a network of people and technology. With more than 22,000 Team Schein Members worldwide, the Company's network of trusted advisors provides more than 1 million customers globally with more than 300 valued solutions that help improve operational success and clinical outcomes. Our Business, Clinical, Technology, and Supply Chain solutions help office-based dental and medical practitioners work more efficiently so they can provide quality care more effectively. These solutions also support dental laboratories, government and institutional health care clinics, as well as other alternate care sites.
Henry Schein operates through a centralized and automated distribution network, with a selection of more than 120,000 branded products and Henry Schein private-brand products in stock, as well as more than 180,000 additional products available as special-order items.
A FORTUNE 500 Company and a member of the S&P 500 index, Henry Schein is headquartered in Melville, N.Y., and has operations or affiliates in 32 countries and territories. The Company's sales reached $12.4 billion in 2021, and have grown at a compound annual rate of approximately 12.5 percent since Henry Schein became a public company in 1995.
Ann Marie Gothard
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